Property Details
About this Property
Pogonip Terrace, located at 140 Vernon St in Santa Cruz, is a well maintained property with historically high occupancy rates. Built in 1999, the 28 unit building is near open space with easy access to area highways (9, 1, 17), UC Santa Cruz, and Downtown Santa Cruz. The Santa Cruz rental market is impacted and there is constant demand for smaller units. The 27 SRO (Single Room Occupancy) units and the 1 one-bedroom unit are appealing to professionals and students alike. It is rare for a building of this size, especially one built in the last 25-years, to come on the market in Santa Cruz. Rents have continued to increase, with the latest SROs renting for $1,925 per month. There is upside to an investor by bringing up the remaining rents to the current market per the Rent Roll and Financial Analysis. The property is professionally managed by a long term manager whod like to continue. Four of the units are part of the Measure O (Affordable) program in the city of Cruz. The remainder of the units are market rate. This property is owned and operated by the original owners and is offered for sale for the first time in its 25 year history. Projected property tax based on list price.
MLS Listing Information
MLS #
ML81986370
MLS Source
MLSListings, Inc.
Days on Site
176
Interior Features
Flooring
Laminate
Laundry
Coin Operated
Cooling
None
Heating
Radiant
Exterior Features
Roof
Composition
Foundation
Concrete Perimeter and Slab
Parking, School, and Other Information
Garage/Parking
Assigned Spaces, Garage: 0 Car(s)
High School District
Santa Cruz City Elementary
Sewer
Public Sewer
Water
Public
Zoning
IG
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 3 | 28 | 28 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | 335 | – | 1/0 | – | $1,925 | 27 |
| 2 | 550 | 1 | 0/0 | – | $2,375 | 1 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
140 Vernon St is a Residential Income in Santa Cruz, CA 95060. This 9,399 square foot property sits on a 0.541 Acres Lot and features – bedrooms & – full bathrooms. It is currently priced at $7,500,000 and was built in 1999. This address can also be written as 140 Vernon St, Santa Cruz, CA 95060.
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This listing information is up-to-date as of November 12, 2024. For the most current information, please contact Chris Shoemaker, (831) 247-2647
